LVS To Pull Ahead Of The Consensus
Soleil Securities Group published a research note to its clients yesterday, maintaining a “buy” rating for Las Vegas Sands Corp (LVS: 19.50 0.00%) and adjusting their estimates for the gaming company.
Analyst Jake Fuller mentioned that the addition of Sands Macau operations were likely to put the casino operator ahead of the consensus for 2011-2012.
However it is unknown exactly how the companies Macau assets listed on the Hong Kong Stock Exchange last month will impact the company’s overall balance sheet.
Soleil has reduced its EPS estimates for the companies fiscal year 2009 from $0.14 to $0.12 and rose its estimates for fiscal year 2010 to $0.47 from $0.45, to incorporate the Sands China IPO, the opening of Marina Bay Sands in Singapore mid year and the completion of parcels 5 and 6 on the Cotai Strip.
Net debt for the casino operator by the end of 2012 is estimated between $6 billion and $6.5 billion.
The target price for LVS is set at $20.00
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